China’s Largest Offshore Shallow Lithologic Oilfield Reaches Full Production
CNOOC announces the Kenli 10-2 oilfield in the Bohai Sea has entered full production, producing over 2,800 tonnes of crude daily.
Oil Production
OPEC+ Announces 188,000 bpd Production Boost Starting June 2026
Seven OPEC+ nations, including Saudi Arabia and Russia, will increase oil production by 188,000 barrels per day starting June 2026, signaling a cautious adjustment to global market conditions.
UAE to Exit OPEC and OPEC+ Starting Next Week
The UAE has announced its withdrawal from OPEC and the OPEC+ alliance, effective May 1, 2026, citing a need for greater flexibility to meet global energy demand.
OPEC+ Announces Oil Output Hike Amid Global Energy Crisis
OPEC+ agrees to boost oil output by 206,000 barrels daily in May 2026 amid Middle East tensions and supply disruptions.
China’s Fuman Oilfield Sets 4.6M-Tonne Record in Energy Milestone
China’s Fuman Oilfield achieves record 4.6 million tonne output, marking breakthrough in ultra-deep energy extraction and domestic production capabilities.
China’s Liuhua Oilfield Achieves Full Secondary Production Milestone
China’s Liuhua Oilfield reaches full secondary production, unlocking 140 million tonnes of reserves and boosting energy security in 2025.